Jacobs Solutions (NYSE:J) Issues FY24 Earnings Guidance

Jacobs Solutions (NYSE:J) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $7.80-8.10 for the period, compared to the consensus EPS estimate of $8.02.

Jacobs Solutions Stock Up 1.0 %

NYSE J traded up $1.33 during trading on Thursday, reaching $139.84. The company’s stock had a trading volume of 672,847 shares, compared to its average volume of 653,690. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $17.57 billion, a PE ratio of 24.73, a PEG ratio of 1.57 and a beta of 0.74. The business has a 50-day moving average price of $147.34 and a 200-day moving average price of $138.31. Jacobs Solutions has a 1-year low of $109.00 and a 1-year high of $154.50.

Jacobs Solutions (NYSE:J) last posted its earnings results on Tuesday, May 7th. The company reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.07. The firm had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $4.33 billion. Jacobs Solutions had a net margin of 4.20% and a return on equity of 14.57%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.81 earnings per share. On average, research analysts forecast that Jacobs Solutions will post 8.07 earnings per share for the current fiscal year.

Jacobs Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, May 24th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Thursday, May 23rd. Jacobs Solutions’s payout ratio is 20.71%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on J. Citigroup boosted their target price on shares of Jacobs Solutions from $161.00 to $169.00 and gave the stock a buy rating in a research report on Monday, April 22nd. Royal Bank of Canada boosted their target price on shares of Jacobs Solutions from $151.00 to $161.00 and gave the stock an outperform rating in a research report on Wednesday, February 7th. KeyCorp started coverage on shares of Jacobs Solutions in a report on Wednesday, January 10th. They issued a sector weight rating on the stock. Bank of America boosted their price target on shares of Jacobs Solutions from $145.00 to $152.00 and gave the company a neutral rating in a report on Tuesday, April 2nd. Finally, Truist Financial lowered their price target on shares of Jacobs Solutions from $154.00 to $153.00 and set a hold rating on the stock in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $156.25.

Insider Activity

In other news, insider Steven J. Demetriou sold 7,000 shares of Jacobs Solutions stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $153.20, for a total value of $1,072,400.00. Following the sale, the insider now directly owns 555,138 shares in the company, valued at $85,047,141.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Jacobs Solutions news, EVP Shelette M. Gustafson sold 1,852 shares of Jacobs Solutions stock in a transaction on Friday, February 16th. The shares were sold at an average price of $148.00, for a total transaction of $274,096.00. Following the completion of the transaction, the executive vice president now directly owns 28,791 shares of the company’s stock, valued at $4,261,068. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Steven J. Demetriou sold 7,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $153.20, for a total transaction of $1,072,400.00. Following the completion of the sale, the insider now directly owns 555,138 shares of the company’s stock, valued at approximately $85,047,141.60. The disclosure for this sale can be found here. Insiders have sold 24,338 shares of company stock worth $3,618,695 over the last ninety days. Insiders own 1.00% of the company’s stock.

About Jacobs Solutions

Jacobs Solutions Inc provides consulting, technical, engineering, scientific, and project delivery services for the government and private sectors in the United States, Europe, Canada, India, Asia, Australia, New Zealand, the Middle East, and Africa. It operates through Critical Mission Solutions, People & Places Solutions, Divergent Solutions, and PA Consulting segments.